In short: Bitcoin critic Peter Schiff's Twitter account was hacked and used to promote a gold-branded token called $GOLD, which reportedly represents tokenized gold and was advertised as a gamechanger for gold-backed DeFi. Peter Schiff's son, Spencer, warned users not to follow the link posted by the unknown attackers on his father's account. Schiff has been a vocal critic of cryptocurrencies like Bitcoin which he has described as a bubble and a Ponzi scheme but has recently announced his participation in an art sale featuring NFTs minted on the Bitcoin blockchain.
Our quick analysis:
Over the weekend, Peter Schiff, the well-known gold proponent, had his Twitter account hacked by crypto scammers. The hackers used his account to promote a cryptocurrency token called $GOLD, which they claimed represented tokenized gold and was a "gamechanger for gold-backed DeFi."
Peter Schiff's son, Spencer Schiff, was quick to warn users about the scam and urged people not to follow any links posted by the attackers. He also confirmed that his father was in the UK and not responding to his messages, concluding that his account had "certainly been hacked."
As a long-time crypto skeptic, Peter Schiff has been critical of cryptocurrencies like Bitcoin, which he has described as a bubble with no intrinsic value. However, his recent participation in an art sale featuring NFTs on the Bitcoin blockchain sparked speculation that he might be changing his mind about crypto. But Schiff took to Twitter to point out that the collection was a "tribute to gold" and that he was "still not a member of that club."
It is ironic that Schiff, a vocal critic of cryptocurrencies, was targeted by crypto scammers. This incident highlights the need for users to be cautious and vigilant when interacting with digital assets and social media accounts. Remember, if something seems too good to be true, it probably is.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
Over the weekend, Peter Schiff, the well-known gold proponent, had his Twitter account hacked by crypto scammers. The hackers used his account to promote a cryptocurrency token called $GOLD, which they claimed represented tokenized gold and was a "gamechanger for gold-backed DeFi."
Peter Schiff's son, Spencer Schiff, was quick to warn users about the scam and urged people not to follow any links posted by the attackers. He also confirmed that his father was in the UK and not responding to his messages, concluding that his account had "certainly been hacked."
As a long-time crypto skeptic, Peter Schiff has been critical of cryptocurrencies like Bitcoin, which he has described as a bubble with no intrinsic value. However, his recent participation in an art sale featuring NFTs on the Bitcoin blockchain sparked speculation that he might be changing his mind about crypto. But Schiff took to Twitter to point out that the collection was a "tribute to gold" and that he was "still not a member of that club."
It is ironic that Schiff, a vocal critic of cryptocurrencies, was targeted by crypto scammers. This incident highlights the need for users to be cautious and vigilant when interacting with digital assets and social media accounts. Remember, if something seems too good to be true, it probably is.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
0 Comments
Please, behave!